Vicat - Cancellation of funding agreement for the Lebec Net Zero project by the US Department of Energy
Cancellation of funding agreement for the Lebec Net Zero project
by the US Department of Energy
The US Department of Energy (DOE), Office of Clean Energy Demonstration has notified the US subsidiary of the Vicat Group, National Cement Company of California Inc., that it was canceling its funding agreement for the Carbon Capture Storage - Lebec Net Zero project signed on December 4, 2024. The decision is part of a broader announcement related to the termination of 24 awards issued by the DOE.
This announcement, that takes place at the initial phase of the Lebec Net Zero project, does not call into question Vicat's commitments to decarbonization. As a reminder, the Group has committed to reducing its direct specific carbon emissions to 497 kg CO2 net per ton of cement equivalent, and 430 kg CO2 net per ton of cement equivalent in Europe. This objective is solely based on existing proven technologies including energy efficiency, alternative fuel substitution and clinker rate reduction and does not rely on any technological breakthroughs, such as carbon capture and storage.
Contacts
| Investor Relations Pierre Pedrosa Tel. +33 (0)6 73 25 98 06 | Press Raphael Hinninger Tel. +33 (0)7 61 74 86 52 |
About Vicat
For 170 years, Vicat has been a leading player in the mineral and biosourced building materials industry. Vicat is a group listed on the Euronext Paris market, part of the SBF 120 Index, and is under the majority control of the founding Merceron-Vicat family. With the ambition of achieving carbon neutrality in its value chain by 2050, the Vicat Group now operates three core lines of business: Cement, Ready-Mixed Concrete and Aggregates, as well as related activities. The Vicat Group is present in 12 countries spanning both developed and emerging markets. It has close to 10,000 employees and generated consolidated sales of €3,884 million in 2024. With its strong regional positions, Vicat is developing a circular economy model beneficial for all and consistently innovating to reduce the construction industry’s environmental impact.
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